SEC has approved bitcoin futures ETFs but not bitcoin spot funds.
The SEC rejected VanEck's application for a spot bitcoin ETF.
Non-deliverable forwards are seen as a gateway to crypto for traditional financial institutions
The bitcoin ETP from the provider of institutional-grade, digital asset-backed securities has gathered $1.6bn.
The SEC has yet to approve a spot bitcoin ETF.
ETFs on CME bitcoin futures have started trading on US exchanges.
A third ETF tracking bitcoin futures contracts has been approved to list in the US.
The first bitcoin-related ETF has listed in the US.
The ETF will invest primarily in bitcoin futures contracts and does not directly invest in bitcoin.